The Financial Sector Conduct Authority (FSCA) wants to tell you about something important. There’s a person named Jacobus Stephanus Geldenhuis who’s been up to no good. The FSCA has been talking about this since October 2022 and even more recently in December 2023.
Here’s the deal: Geldenhuis and a company called Classic Financial Services did some bad stuff. They broke laws that are meant to keep your money safe. They pretended to be a bank and tricked people into giving them money. Instead of investing it properly, they used it for themselves, like in a Ponzi scheme. As a result, the FSCA punished Geldenhuis by banning him from financial business for 20 years and making him pay a huge fine.
But here’s the problem: even though Geldenhuis got in trouble, he’s still trying to do shady financial stuff. He’s now using a new company name, Pecunia Systems (Pty) Ltd, to trick people.
But don’t be fooled! This company has nothing to do with him, and they’re trying to sort things out with the FSCA.
So, the FSCA wants you to be careful. Before you trust someone with your money, make sure they’re authorized by the FSCA.
You can check by looking them up online or contacting the FSCA directly.
1) Toll-free number: 0800 110 443
2) Online search for authorised financial institution by license category:
https://www.fsca.co.za/Regulated%20Entities/Pages/List-Regulated-Entities-Persons.aspxÂ
3) Online search for a financial institution that is an authorised FSP in terms of the FAIS
Act: https://www.fsca.co.za/Fais/Search_FSP.htm
Don’t fall for scams like Geldenhuis’s. Your money deserves better!
